The company's solvency is under pressure with a debt-to-equity ratio of 1.22 and a massive accumulated deficit in retained earnings totaling $109.2 million as of 2026Q1.
| Total Current Assets | 1.66M | 1.41M | 2.67M | 2.94M | 1.43M | 2.62M | 2.28M |
| Cash & Short-Term Investments | 137K | 259.2K | 1.09M | 2.09M | 1.02M | 1.79M | 1.72M |
| Cash Only | 137K | 259.2K | 1.09M | 2.09M | 1.02M | 1.79M | 1.72M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 681K | 722.07K | 936.32K | 105.05K | 68.42K | 74.73K | 0 |
| Days Sales Outstanding | 25.48 | 21.67 | 75.48 | 8.41 | 4.68 | 5.24 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 842K | 114.49K | 47.21K | 431.38K | 136.38K | 219.87K | 0 |
| Total Non-Current Assets | 29.81M | 30.22M | 23.01M | 2.35M | 4.05M | 2.27M | 230M |
| Property, Plant & Equipment | 49K | 64.12K | 76.1K | 138.66K | 319.06K | 10.59K | 0 |
| Fixed Asset Turnover | 186.20x | 189.68x | 59.50x | 32.89x | 16.71x | 491.90x | - |
| Goodwill | 21.99M | 21.99M | 18.97M | 2.17M | 2.17M | 2.17M | 0 |
| Intangible Assets | 7.74M | 8.03M | 3.88M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 10K | 9K | 63K | 0 | 0 | 0 | 230M |
| Other Non-Current Assets | 36K | 125.79K | 11.15K | 38.38K | 1.56M | 90.97K | 0 |
| Total Assets | 31.47M | 31.63M | 25.67M | 5.29M | 5.48M | 4.89M | 232.28M |
| Asset Turnover | 0.36x | 0.38x | 0.18x | 0.86x | 0.97x | 1.06x | - |
| Asset Growth % | 1171.51% | 23.2% | 385.47% | -3.48% | 11.99% | -97.89% | - |
| Total Current Liabilities | 22.21M | 22.37M | 28.26M | 37.09M | 29.28M | 10.84M | 144.02K |
| Accounts Payable | 2.97M | 2.49M | 7.78M | 6.44M | 1.1M | 439.4K | 0 |
| Days Payables Outstanding | 400.96 | 416.01 | 2K | 1.62K | 204.16 | 77.39 | - |
| Short-Term Debt | 9.87M | 10.59M | 12.43M | 16.16M | 13.69M | 7.98M | 0 |
| Deferred Revenue (Current) | 14.99M | 3.64M | 3.93M | 1.21M | 930.44K | 1.06M | 0 |
| Other Current Liabilities | 5.26M | 4.62M | 205.31K | 7.93M | 12.42M | 1.01M | 144.02K |
| Current Ratio | 0.07x | 0.06x | 0.09x | 0.08x | 0.05x | 0.24x | 15.83x |
| Quick Ratio | 0.07x | 0.06x | 0.09x | 0.08x | 0.05x | 0.24x | 15.83x |
| Cash Conversion Cycle | -375.48 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.16M | 1.21M | 177.73K | 75K | 309.04K | 9.79M | 33.91M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 121.25K | 33.92K | 49.97K | 0 | 234.04K | 0 | 0 |
| Deferred Tax Liabilities | 4.6M | 1.08M | 10.12K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 75K | 75K | 9.79M | 33.91M |
| Total Liabilities | 23.38M | 23.58M | 28.44M | 37.16M | 29.59M | 20.63M | 34.05M |
| Total Debt | 9.88M | 10.63M | 12.5M | 16.4M | 14.2M | 7.98M | 0 |
| Net Debt | 9.75M | 10.37M | 11.41M | 14.31M | 13.18M | 6.19M | -1.72M |
| Debt / Equity | 1.22x | 1.32x | - | - | - | - | - |
| Debt / EBITDA | -0.55x | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.54x | - | - | - | - | - | - |
| Interest Coverage | -9.37x | -8.41x | -7.69x | -1.59x | -5.50x | -7.53x | - |
| Total Equity | 8.1M | 8.05M | -2.76M | -31.88M | -24.11M | -15.74M | 198.23M |
| Equity Growth % | 800.13% | 391.45% | 91.33% | -32.19% | -53.21% | -107.94% | - |
| Book Value per Share | 11.25 | 42.59 | -12.40 | -4650.73 | -10484.37 | -6843.22 | 86186.71 |
| Total Shareholders' Equity | 8.1M | 8.05M | -2.76M | -31.88M | -24.11M | -15.74M | 198.23M |
| Common Stock | 0 | 1.05K | 800 | 1.6K | 645 | 828 | 193.23M |
| Retained Earnings | -109.19M | -100.77M | -78.28M | -46.77M | -32.36M | -16.89M | -6.05M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -60K | -85.38K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Existential liquidity shortfall
As reported in recent financial statements, Banzai's balance sheet trajectory reflects a persistent erosion of equity, with total equity falling from $8.1 million in 2025Q4 to $8.1 million in 2026Q1, while the company continues to struggle with a mounting deficit in retained earnings.
The consistent decline in net equity suggests that the company's growth strategy has been funded through value-dilutive mechanisms rather than organic capital generation. Investors should monitor the widening gap between assets and liabilities, which indicates that the business model is currently unable to support its own capital structure.
Based on the company's reported figures, goodwill accounts for approximately $22.0 million of the $31.5 million in total assets as of 2026Q1, representing a significant portion of the balance sheet that may be subject to future impairment if growth targets are not met.
The heavy reliance on intangible assets suggests that the company's valuation is highly sensitive to the performance of acquired entities like Demio. If the underlying business fails to generate sufficient cash flow to justify these carrying values, the company may face significant write-downs that would further impair its already fragile equity position.
According to the most recent quarterly data, Banzai's cash position has dwindled to a precarious $137,000, resulting in a current ratio of 0.07, which indicates an immediate and existential risk to the company's ability to meet its short-term obligations without external capital intervention.
The extremely low current ratio suggests that the company is operating with virtually no buffer against operational shocks or unexpected expenses. This lack of liquidity implies that the firm is likely dependent on continuous, potentially dilutive, financing rounds to maintain basic operations, which warrants extreme caution from investors.
As indicated by the historical balance sheet data, the company's retained earnings have plummeted to -$109.2 million as of 2026Q1, reflecting a sustained period of value destruction that has left the equity base in a highly vulnerable state.
The persistent negative retained earnings suggest that the company has been unable to achieve profitability, forcing a reliance on equity financing that likely dilutes existing shareholders. The lack of a clear path to positive earnings implies that the equity base may continue to shrink unless the company can fundamentally alter its cost structure.
Based on the reported financial statements, the company's debt-to-equity ratio of 1.22 in 2026Q1 may understate the true risk profile, as it does not fully account for the potential impact of off-balance-sheet obligations or contingent liabilities related to past acquisitions.
While the headline debt figures appear manageable, the combination of low cash and high goodwill suggests that the company's financial health is more fragile than traditional leverage metrics might imply. Investors should be wary of the potential for future capital calls or restructuring events that could materially alter the company's capital structure.
Quick answers to the most common questions about buying BNZI stock.
As of 2025, Banzai International, Inc. (BNZI) had total assets of $31.6M including $1.4M in current assets.
Banzai International, Inc. (BNZI) carries total debt of $10.6M, offset by $0.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Banzai International, Inc. (BNZI) has total shareholders' equity (book value) of $8.1M ($42.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Banzai International, Inc. (BNZI) reported a current ratio of 0.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.